Operator Energy Consumption The following table presents estimates for direct and indirect energy usage, which can be attributed to our interests, for a majority of our revenue-generating mineral properties, as available from Skarn Associates for calendar years 2018 through 2023. The table also details the GHG emissions associated with each unit of direct and indirect energy and provides a weighted average performance for the portfolio. Entries labeled “NR” means the data was not reported in the Skarn Associates database, and those labeled “–” are for periods when Royal Gold did not have royalty or stream revenue from the mineral property. Skarn Associates may update prior year information, which we may have presented in prior reports. We use the most current data available from Skarn Associates and adjust our presentation of data and calculations accordingly. Mineral Property/Operator Year 1 Royal Gold Net GEOs 2 (%) Total Energy Intensity (GJ/GEO) Quartile Ranking 8 RGLD Attributed Energy Estimates 4,5 Energy Emission Factor Electrical Power Consumption (kW-hr/t Ore Treated) Direct Indirect Total Direct Indirect Total (Tera Joule) (tCO 2 e/Tera Joule) Principal Properties Andacollo Teck Resources Limited 2018 15.3% 78 262 340 71 116 106 25 2019 17.2% 98 319 417 71 113 103 26 2020 13.4% 81 253 334 71 76 75 25 2021 11.4% 103 338 441 71 — 16 30 2022 8.4% 81 254 335 71 — 17 30 2023 8.4% 4th 82 213 295 71 — 20 27 Cortez 3 Nevada Gold Mines LLC 2018 1.5% 10 4 13 71 83 74 18 2019 4.3% 47 18 65 71 81 74 19 2020 6.1% 85 27 112 71 81 73 18 2021 11.0% 179 54 234 71 71 71 12 2022 10.6% 130 45 175 71 91 76 26 2023 18.8% 2nd 223 79 302 71 21 58 16 Mount Milligan Centerra Gold Inc. 2018 22.6% 151 354 505 71 3 23 35 2019 23.3% 187 386 573 70 8 29 33 2020 24.8% 203 459 662 70 11 29 30 2021 23.5% 202 443 645 70 3 24 29 2022 27.0% 252 473 725 70 3 26 27 2023 23.5% 4th 237 491 728 70 3 25 27 2024 Investment Stewardship Report 94 ROYAL GOLD Introduction About Royal Gold Governance Our People Operators and Communities Investment Stewardship Appendices